The U.S. retail sales experienced a decline in October, albeit less than anticipated, following several months of robust gains. This development suggests a potential slowdown in demand, reinforcing the growing sentiment that the Federal Reserve has concluded its course of interest rate hikes.
Indian passenger vehicle retail sales decreased to 353,990 units in October. Meanwhile, wholesale numbers reached a historic high of 391,472 units, marking a 16.3 percent YoY increase, attributed to strong demand ahead of Diwali and new model launches.
India’s automotive industry derives close to a quarter of its full-year sales in the festive season alone. What happens in this roughly two-month long period highlights important trends about consumption, demand and the elusive ‘sentiment’ that drives sales. Mint explains.